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Smarter Decisions - The Intersection of Internet of Things and Decision Science

You're reading from  Smarter Decisions - The Intersection of Internet of Things and Decision Science

Product type Book
Published in Jul 2016
Publisher Packt
ISBN-13 9781785884191
Pages 392 pages
Edition 1st Edition
Languages
Author (1):
Jojo Moolayil Jojo Moolayil
Profile icon Jojo Moolayil

Table of Contents (15) Chapters

Smarter Decisions – The Intersection of Internet of Things and Decision Science
Credits
About the Author
About the Reviewer
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Preface
IoT and Decision Science Studying the IoT Problem Universe and Designing a Use Case The What and Why - Using Exploratory Decision Science for IoT Experimenting Predictive Analytics for IoT Enhancing Predictive Analytics with Machine Learning for IoT Fast track Decision Science with IoT Prescriptive Science and Decision Making Disruptions in IoT A Promising Future with IoT

Using a layered approach and test control methods to outlive business disasters


Prescriptive science results from the convergence of descriptive, inquisitive, and predictive analytics. It is used as a layered approach and iterated till the time we reach a promising solution. To understand the concept lucidly, let's simplify it by reconstructing the abstract and ambiguous words in a layman's way.

What is prescriptive analytics?

Prescriptive analytics helps us answer the question 'So what, now what' in the problem solving exercise, that is, it helps us improve the outcome. It is the final layer in the problem solving stack that results from the convergence of the previous three types: descriptive + inquisitive + predictive.

We'll consider a very simple example to study this in more detail. Consider a telecom giant (say AT&T, Verizon, and so on) who provides multiple services such as broadband connections, IPTV, mobile telephone connections, and so on The director of the Customer Experience...

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